GDP Ranks Shenzhen Fourth Among Major Chinese Cities

GDP Ranks Shenzhen Fourth Among Major Chinese CitiesThe Gross Domestic Product or GDP in the city increased by 10.5 percent or about 1.45 trillion yuan for 2013 ranking it fourth among major Chinese cities. Consumption, investment and exports are the three driving forces in the city’s economy for 2013 as the city’s fixed assets investments have reached 250 billion yuan as of last year showing an increase of 14 percent from 2012.

Around 35 billion yuan was invested in urban rejuvenation projects, during that year retail sales of consumer good for 2013 has reached 443 billion or an increase of 10 percent from 2012. Also the city foreign trade volume has reached US$537 billion a year on increase of 15 percent and Shenzhen foreign trad accounted around 12 percent of the country’s total and half of the Guangdong Province total.

Emerging strategic industries have pushed the economic growth and the added value of these industries have reached 500 billion yuan in 2012 or an increase of 20 percent doubling the average economic growth and is 34 percent of the city’s total GDP. Public fiscal budgetary revenue reached 173 billion in 2012 showing a yearly increase of 16 percent and energy consumption per 10,000 yuan GDP have dropped 4 percent or around 0.432 tons of coal, while electricity consumption per 10,000 yuan dropped 7 percent to around 558 kilowatts per hour.

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